Title

Asia's economic crisis and the IMF

Document Type

Journal article

Source Publication

Survival

Publication Date

Summer 1-1-1998

Volume

40

Issue

2

First Page

27

Last Page

52

Abstract

In summer 1997, the high-performing East and South-east Asian economies faced a financial crisis of unprecedented proportions. In a matter of weeks, once-vibrant economies and their strong currencies witnessed a meltdown, forcing them to turn to that lender of last resort, the International Monetary Fund (IMF), for assistance. A careful examination of the long-term as well as the immediate causes of the crisis refutes the widely held view that no one predicted the crisis. The crisis could have been avoided if the over-exuberant Asian governments had heeded the IMF's early warning. The IMF's policy prescriptions are not only working, but those states in the region that follow them will do best.

DOI

10.1080/00396338.1998.10107835

Print ISSN

00396338

E-ISSN

14682699

Publisher Statement

Copyright © Oxford University Press (England) 1998

Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Recommended Citation

Sharma, S. (1998). Asia's economic crisis and the IMF. Survival, 40(2), 27-52. doi: 10.1080/00396338.1998.10107835